financing with bad credit

Discussion in 'Trucker Taxes and Truck Financing' started by denaswangin, Jul 11, 2018.

  1. denaswangin

    denaswangin Bobtail Member

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    Feb 24, 2009
    pasadena ca
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    Las Vegas nv
     
  2. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    First place you should try is Lone Mountain Truck leasing.
    That's one of their bases.
     
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  3. denaswangin

    denaswangin Bobtail Member

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    Feb 24, 2009
    pasadena ca
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    do they work with bad credit?
     
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  4. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    Unknown by me. But I think unless you have like a tax lien, or back child support, you probably have a decent chance with them or anyone else, especially if you can come up with 20% down, and you have a company lined up that you are going to lease onto.
     
  5. Zigzag777

    Zigzag777 Medium Load Member

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    Why don’t you just stop by a few truck dealers, they’d be more than happy to work you up a deal. Down payment and interest rate would be explained in full. You would have solid factual answers, not our opinions, which you seem to dislike intensely. Nobody here can give you the answers you’re looking for, so instead of being bothered by the answers and opinions you’re getting, do yourself a favor and go to a place where they actually sell trucks, and I’m absolutely positive, that you can get all the facts and figures you desire. This board doesn’t do well with mystery’s, we’re just a bunch of curious folks here. It’s your money, have fun!
     
  6. TheyCallMeDave

    TheyCallMeDave Heavy Load Member

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    About as cut and dry as you can get.....Accurate as well. Take this thumbs up my good man.
     
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  7. Ridgeline

    Ridgeline Road Train Member

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    Michigan
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    A bit of advice and an answer.

    First the answer, OF COURSE you can buy a truck with 50% down and crap credit, there are lenders out there who will be more than happy to lend to you long notes with high interest.

    Second a few bits of advice.

    1 - don't mistake the comments here for bashing, we all seen lots and lots of failed people who went into this thinking it was easy money.

    2 - I would stay right where you are at, you are making good money, and if you want to get into this as an owner then cut your expenses, get your credit fixed and then consider buying truck.

    3 - the warranty doesn't mean ********, it is there to fix some things, other things it won't fix and you have another issue when there is a breakdown, number 4

    4 - you need to pay the bills and it is not uncommon to have bills due and a truck down, so most of us who are smart have 4 to 6 months of operating costs saved up in case of problems like this, plus those bills including your truck payment will not wait - the thing about high interest financing with crappy credit is that they are less likely to work with you than if you have good financing. The rub is that the high risk groups are watched closely and the first sign of issues, they move to repo the truck.

    5 - buying a truck isn't like buying a car. screw what the dealer/owner says, you have to do Due Diligence and that is done to lower (NOT ELIMINATE) risks of breaking down and making sure the truck is up to doing a job it was made to do. This includes a lot things like dyno and blowby (blowby is done only under a full load), oil analysis of fluids, ECM dump to make sure it is the right one and the numbers all match, having an third party mechanic go through the entire truck to find crap wrong with it (which is also use to negotiate the price down) and a bunch of other things - honestly I'm getting Due Diligence fatigue telling this over and over again. MOST who don't have these things done have a higher risk of breakdowns, fact. Many who claim it doesn't need to be done have been lucky. So this usually costs about $1000 or maybe a little more.

    Hope this helps.
     
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  8. Trucking in Tennessee

    Trucking in Tennessee Road Train Member

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    I bet you played hardball and got 39% and free floor mats.
     
  9. Trucking in Tennessee

    Trucking in Tennessee Road Train Member

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    sucking it up means to keep working and get your credit fixed. I can tell by your response you only want to hear how to obligate yourself for more debt. With your temper and attitude you will be deeper in debt soon. Go ahead and load up. Not my problem.
     
    Last edited: Jul 12, 2018
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  10. bzinger

    bzinger Road Train Member

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    43% ? ...who wrote that loan ? ...the gambino family ? Lol
     
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